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Fitch Ratings Cuts Near-Term Oil and Gas Prices, Raises Mid-Cycle Oil Assumptions
Fitch Ratings has cut its oil and gas price assumptions for 2023 and the 2024 European TTF gas price, reflecting weaker demand and robust supply in the near term. We have increased our 2025-2026 and mid-cycle oil assumptions due to expectations of gradually increasing demand, at least in the next five to seven years, which will eventually be met by rising production in OPEC+ countries, North America and potentially some other regions. table The lower assumption for 2023 oil prices reflects weaker short-term demand and concerns over slowing global economic growth and still resilient oil supplies, particularly from ... (full story)